Delta Global Management LP Takes $2.25 Million Position in HubSpot, Inc. $HUBS

Delta Global Management LP bought a new position in HubSpot, Inc. (NYSE:HUBS) during the third quarter, according to its most recent filing with the SEC. The firm bought 4,818 shares of the software maker’s stock, valued at approximately $2,254,000.

Several other hedge funds have also bought and sold shares of HUBS. Vanguard Group Inc. raised its holdings in HubSpot by 6.4% during the third quarter. Vanguard Group Inc. now owns 5,736,765 shares of the software maker’s stock worth $2,683,659,000 after buying an additional 345,524 shares during the last quarter. AQR Capital Management LLC grew its holdings in shares of HubSpot by 89.2% during the third quarter. AQR Capital Management LLC now owns 546,436 shares of the software maker’s stock valued at $255,623,000 after buying an additional 257,577 shares during the last quarter. Norges Bank acquired a new position in shares of HubSpot during the second quarter valued at about $269,941,000. Amundi increased its position in shares of HubSpot by 57.6% during the third quarter. Amundi now owns 452,252 shares of the software maker’s stock worth $209,660,000 after acquiring an additional 165,315 shares in the last quarter. Finally, Bank of America Corp DE increased its position in shares of HubSpot by 8.6% during the third quarter. Bank of America Corp DE now owns 448,857 shares of the software maker’s stock worth $209,975,000 after acquiring an additional 35,378 shares in the last quarter. Institutional investors and hedge funds own 90.39% of the company’s stock.

HubSpot Stock Performance

HUBS opened at $264.28 on Tuesday. HubSpot, Inc. has a fifty-two week low of $207.20 and a fifty-two week high of $682.57. The firm has a 50-day moving average of $283.16 and a 200 day moving average of $380.61. The firm has a market cap of $13.94 billion, a P/E ratio of 303.77, a PEG ratio of 3.94 and a beta of 1.40.

HubSpot (NYSE:HUBS) last announced its quarterly earnings data on Wednesday, February 11th. The software maker reported $3.09 EPS for the quarter, topping the consensus estimate of $2.99 by $0.10. The business had revenue of $846.75 million for the quarter, compared to analyst estimates of $830.65 million. HubSpot had a net margin of 1.47% and a return on equity of 3.64%. The company’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.32 earnings per share. Equities research analysts predict that HubSpot, Inc. will post 1.01 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. The Goldman Sachs Group lowered their target price on shares of HubSpot from $517.00 to $442.00 and set a “buy” rating on the stock in a report on Thursday, February 12th. Citigroup lifted their price target on HubSpot from $600.00 to $640.00 and gave the company a “buy” rating in a research note on Friday, February 13th. Canaccord Genuity Group set a $485.00 price objective on HubSpot in a research note on Thursday, February 12th. Sanford C. Bernstein restated an “outperform” rating on shares of HubSpot in a report on Thursday, February 12th. Finally, Jefferies Financial Group cut their target price on HubSpot from $560.00 to $325.00 and set a “buy” rating on the stock in a research report on Thursday, February 12th. Two analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, HubSpot presently has a consensus rating of “Moderate Buy” and an average target price of $454.20.

Insider Buying and Selling

In other HubSpot news, Director Brian Halligan sold 8,261 shares of the stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $253.00, for a total transaction of $2,090,033.00. Following the completion of the transaction, the director directly owned 481,168 shares of the company’s stock, valued at approximately $121,735,504. This represents a 1.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Erika Ashley Fisher sold 841 shares of the firm’s stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $238.01, for a total value of $200,166.41. Following the completion of the sale, the insider directly owned 10,119 shares of the company’s stock, valued at $2,408,423.19. This represents a 7.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 18,191 shares of company stock worth $5,017,287 in the last ninety days. 4.00% of the stock is currently owned by insiders.

HubSpot Company Profile

HubSpot, Inc is a software company that develops a cloud-based customer relationship management (CRM) platform designed to help organizations attract, engage and delight customers. Its primary business activities center on providing integrated marketing, sales and customer service tools that support inbound marketing strategies, content management, lead nurturing, sales automation and customer support workflows.

The company’s product suite is organized around modular “hubs” built on a central CRM: Marketing Hub, Sales Hub, Service Hub, CMS Hub and Operations Hub.